Beiruting News

ABC and Bahaa Rafic Hariri Group partner to present 'ABC Verdun'


Beirut is getting ready for the launch of the 200Million dollars project, 'ABC Verdun', a joint development between ABC and Verdun 1544 Holding, one of the largest companies of Bahaa Rafic Hariri Group in Lebanon. The 170 thousand square meter shopping mall is expected to welcome shoppers and tourists by 2017 to constitute a landmark amongst family destinations for shopping, fashion and entertainment.   

"The project's timing comes within the sensitive political and economic situation facing Lebanon and the Arab world," said MP Robert Fadel, ABC Chairman and CEO. "Our faith in Lebanon and our trust in the future of its economy made us more determined to proceed with such a huge project that will attract the residents of greater Beirut. ABC Verdun will be a quantum leap in the retail sector and mall management not only in Verdun but in Lebanon while generating more than 2000 job opportunities", he added. 

"It is with great pleasure that we signed a strategic partnership with ABC, the first Lebanese and probably regional entity to develop and manage shopping centers", said Mr. Jamil Jamil Bayram, who signed on behalf of Bahaa Rafic Hariri Group the memorandum of understanding with ABC. "Starting today, Verdun street must get ready to welcome the largest commercial entertaining project that will constitute a breakthrough for all Lebanese as well as tourists, especially from the Arab countries", he added. "Our strong belief in the future of Lebanon and its people, encouraged us to invest in this milestone project for the benefit of future generations", he concluding, stating :" It is not the first real estate project for Bahaa Rafic Hariri Group in Lebanon, possibly the largest, but not the last- God willing".

'ABC Verdun' is a joint development between ABC and Bahaa Rafic Hariri Group. The project will be constructed on an eighteen thousand square meters property with one hundred seventy-five thousand square meters of built area, out of which fifty thousand will be allocated to lease. Further to this partnership, ABC  holds the exclusive right to operate 'ABC Verdun' for a period of thirty years and investing in a ten thousand square meters for the ABC department store while the remaining space will be leased to other partners.The construction work starts within six months starting today according to the latest designs and global standards. This pioneer project, surrounded by streets and accessible in and out of several outlets and directions, is expected to be completed in four years of continuous work. The shopping mall will occupy a large part hosting the most prominent and prestigious international fashion houses, restaurants, cafes, cinemas and other recreational facilities. 'ABC Verdun' will be a turning point in the history of ABC and Bahaa  Rafic Hariri Group  whereas ABC experienced  team in the shopping malls industry will be within the reach of one of the  most prominent business groups to ultimately create the finest retail destination for all Lebanese and expatriates.

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About ABC:Established in 1936, ABC was the first department store to open its doors in the Middle East. In 2003, with the opening of ABC Achrafieh Mall, ABC introduced the first mall in Lebanon and was the first retail store to branch throughout the country and expand its reach to a wider scope of customers. With its six branches spread across Lebanon displaying a full range of brand name products as well as an average of 11 million visitors per year and 97% brand awareness in Lebanon, ABC  has evolved from being a single retailer to a commercial real estate developer and a franchisee. ABC currently operates 6 retail outlets including 2 flagship department stores in prime locations as well as the first open air mall to meet international standards in the region. The other 4 regional stores are spread throughout Lebanon.ABC has been growing and maturing since its establishment as it was the first retailer to employ women, to install fixed prices and develop advertising campaigns. ABC was the first mall to ban smoking while allocating free space to Lebanese designers to promote their business. For more than 75 years, ABC is offering its customers inspiring experiences equivalent to international standards.